Strategies & Market Trends | E-Wave and TA Workspace


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From: mchjc10/4/2011 4:18:33 PM
   of 203136
 
Quite a day !!!......Up some 50 points from LOD to HOD, and closing near HOD..Last hour ramp aided by sharply downticking US$...with good participation across the board...XLK Tech, XLF Finance, XLE Energy, and XLB Materials..Also helped by an AAPL 18 point reversal off its LOD...

1073 S held like a charm, and R from Aug-Sept lows rapidly overcome....Possibly heading for next R around 1130-1135ish..

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To: Jack of All Trades who wrote (194302)10/4/2011 4:36:45 PM
From: mchjc   of 203136
 
Those top "channel" lines .....properly known as "return" lines...can also fail to be reached...

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To: mchjc who wrote (194303)10/4/2011 4:53:56 PM
From: Jack of All Trades   of 203136
 
So we made some new lows, how does that effect your counts?

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To: mchjc who wrote (194278)10/4/2011 11:53:33 PM
From: Jeffry K. Smith   of 203136
 
Thank you!

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To: Jack of All Trades who wrote (194305)10/5/2011 12:09:43 AM
From: mchjc   of 203136
 
Here's an update of my counts, Jeff...Think we may need some more new lows here..vbg


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To: mchjc who wrote (194307)10/5/2011 6:16:39 AM
From: Jack of All Trades   of 203136
 
Thanks, I'm not sure if the lows are in or not, I do have fork R coming in around 1143 on the cash for today dropping a ~2pts/day...

My hourly ES is looking a bit higher at around 1148 on the cash, with 1119 cash looking as S/R depending where we open...

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From: mchjc10/5/2011 9:28:55 AM
   of 203136
 
SPX TA...Yesterday's action clearly a 1-day reversal....a pattern of no major significance, but possibly extending a short-term advance....Next R here 1135ish area...

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To: mchjc who wrote (194309)10/5/2011 10:09:30 AM
From: Jack of All Trades   of 203136
 
AAPL continues to be a drag on tech, not a good sign if you ask me...

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To: Jack of All Trades who wrote (194310)10/5/2011 10:15:03 AM
From: mchjc   of 203136
 
Right..

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From: mchjc10/5/2011 11:16:16 AM
   of 203136
 
SPX TA HOD at important 1134 level...site of both horizontal chart R as well as R from small DT line starting at 9/27 high..

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